Taiwan's economic affairs ministry has announced plans to support Taiwanese companies that may face challenges due to potential US tariffs. Taiwan plays a significant role in the production of cutting-edge semiconductor chips and electronics, with many of its companies operating factories in countries such as Mexico, Canada, and China, which could be impacted by new tariffs.
US President Donald Trump recently indicated a 'pause' on tariffs for Mexico and Canada after discussions with their leaders on Monday. In anticipation of potential changes in trade policies, the Taiwanese ministry has implemented various measures to assist local companies in adjusting their investment strategies, including the establishment of new factories in the United States.
One of the key initiatives is the introduction of a hotline for affected companies, along with providing information for firms considering relocation to the US. This includes offering guidance on local laws in different states and facilitating connections with potential business partners.
Furthermore, a new investment and trade center will be established in the US to help Taiwanese companies evaluate the investment climate in various states and adapt to shifts in the supply chain.
The ministry emphasized its commitment to closely monitoring international trade developments to help companies navigate the evolving landscape and determine the most effective strategies for addressing these changes. Last week, Taiwan's Premier Cho Jung-tai expressed the government's willingness to support the domestic industry in response to President Trump's threats of imposing new tariffs on imported semiconductor chips, a product in which Taiwan is a major global supplier.
